N.Y. State Finance Law § 222: Monitoring and report

§ 222. Monitoring and report. 1. The commissioner of economic

development shall monitor the activities of participating lenders and

businesses and may require periodic reports or other information the

commissioner of economic development deems necessary from participating

lenders and businesses on the status of the linked loans and the

projects to ensure compliance with the provisions and the intent of this

article.

2. On or before February first, nineteen hundred ninety-five, and

annually thereafter the commissioner of economic development shall

submit to the governor, the temporary president of the senate and the

speaker of the assembly a report regarding the activities of the

program. Such report shall contain a statement of the cost of the

program to the state and to the public authorities, considered as a

whole, because of reduced rates on funds invested in linked deposits.

Such report shall also include, but shall not be limited to, the number

and type of linked loans under the program and the amount thereof; the

number and types of lenders making linked loans and of firms receiving

linked loans; the geographic distribution of such lenders and firms; the

approximate number of jobs created or retained as a result of the

program; actions taken by the department of economic development and the

department of financial services to secure the increased participation

of lenders in economic development regions in which fewer than ten

linked loans have been made on or before April first, nineteen hundred

ninety-five; actions taken by the department of economic development to

secure the increased participation of public authorities and public

benefit corporations pursuant to section ninety-two-v of this chapter;

as well as any information the commissioner determines useful in

evaluating the economic benefits of the program.